To improve living standards, what should policymakers do?

Question

Quizplus · Accepted Answer

Formulating policies designed to increase productivity is the best choice for improving living standards. By increasing productivity, a country can produce more goods and services, leading to increased economic growth and job creation. This can lead to higher wages and better living standards for citizens. Restricting foreign competition or imposing tougher immigration policies can have negative economic effects and limit opportunities for growth. Tax breaks for the middle class may provide some relief, but alone may not lead to significant improvements in overall living standards.

To Improve Living Standards, What Should Policymakers Do